Tag Archive: Overseas

Apple dodges $59.2 billion tax bill by holding cash overseas

Apple is holding more cash overseas than any other corporation in the U.S. and it’s paying off big time by helping the company avoid an estimated $ 59.2 billion tax bill. Of course, Apple’s not alone in holding massive amounts of cash overseas. A new study released today found that the 500 largest companies hold more […]

(via Cult of Mac – Tech and culture through an Apple lens)

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Senate Summons Apple’s Tim Cook To Testify On Storing Cash Overseas To Avoid Taxes


Apple has fallen under plenty of scrutiny for storing a majority of its $ 100+ billion cash horde overseas to avoid paying U.S. corporate taxes, the highest tax rate in the world. Now Apple CEO Tim Cook has been summoned to speak at a Senate hearing next week as part of an investigation into the offshore tax practices of U.S businesses.

Politico reports that Cook will testify before the Senate Permanent Subcommittee  [Read More…]

Apple Hires Rolls Royce Director To Bolster Corporate Communications Overseas [Rumor]

You can keep the Phantom, Apple.

You can keep the Phantom.

As Apple continues to expand its presence internationally, the company has reportedly created a new executive position for handling business affairs in Europe, the Middle East, India and Africa. An unverified report claims that Josh Rosenstock, former Director of External Communications for luxury car maker Rolls Royce, has been hired to fill the spot.

“One source with knowledge of the move said the ‘heavyweight’  [Read More…]

NYT: Apple Is Making Good Progress With Foxconn Working Conditions Overseas [Report]

Tim Cook spent time with Foxconn employees during his visit to China earlier this year.

The New York Times raised quite a stink at the beginning of this year with its provocative ‘iEconomy’ series on the poor working conditions at Foxconn, Apple’s largest manufacturing partner in China. After running headlines like “In China, human costs are built into an iPad,” the Times has published a new report that more positively portrays  [Read More…]

French Carrier Ad Points To September 21st iPhone 5 Launch Overseas

If this signage is to be believed, French carrier SFR will be offering the iPhone 5 come September 21st. While it’s expected that the next iPhone will go on sale in the U.S. on the 21st, international availability details have remained scarce.

The display is about a SFR contest to win a free iPhone 5 on the network once its available. The picture of the actual device is probably a mockup  [Read More…]

Analyst Estimates Apple Has $74 Billion In Cash Overseas

According to Barron’s today, Apple tops the list of tech companies keeping large amounts of cash reserves overseas. Barron’s quotes Moody’s Investor Services as estimating Apple’s overseas cash supply at $ 74 billion, which is higher than the $ 64 billion of last year.

Apple isn’t the only technology company sending cash and other liquid investments out of the country, of course. Microsoft comes in second place with an estimated  [Read More…]

New iPad Prompts Bigger Lines Overseas Than in the U.S.

The masses came out as expected today, as Apple unleashed its third-generation tablet to what most analysts expect to be record-breaking first weekend sales for a new iPad release. And while there were indeed long lines at Apple stores from coast to coast, iPad pandemonium didn’t cause many crowd control issues. According to Gene Munster of Piper Jaffray, the lines observed Friday at Apple’s stores around New York City were actually smaller than those observed  [Read More…]

Apple Joins The Fair Labor Association To Help Improve Factory Working Conditions Overseas

The Fair Labor Association(FLA)is a nonprofit organization dedicated to protecting the civil rights and living conditions of factory workers around the world. Following the string of scandals and suicides throughout Apples supply chain, the Cupertino company has joined the FLA as a Participating Company. Apple is the first technology company to join the FLA, and this will hopefully prompt many other industry leaders to do the same. The FLA will  [Read More…]

Europes Financial Mess Means Slumping Overseas iPhone Market

Photo by monty.metzger – http://flic.kr/p/6aioW2

Does talk of the Euro economic crisis make your eyes glaze over? Perhaps this will get your attention: The down European economy is costing the iPhone marketshare as consumers keep a tight hold on their cash. The bright side: the U.S. and U.K. love of everything Apple has become stronger. According to London-based research firm the Kanter Group, the iPhone 4S is showing signs of  [Read More…]

Tim Cook: Apple Not Religious About Holding Cash, $54B is Overseas

During todays fourth fiscal quarterly earnings call, Apple CEO Tim Cook addressed the massive pile of cash that Apple has in the bank. As it turns out, about two-thirds of Apples available cash is currently held overseas. Apple is known for being incredible conservative when it comes to spending. The company very rarely makes high-profile buyouts, and internal operations are streamlined for efficiency. Holding money offshore allows Apple to defer taxes  [Read More…]